Sheila Bair, former Chairperson of the U.S. Federal Deposit Insurance Corporation, has written about her view of the future of big US banks in the wake of the JP Morgan Chase trading scandal.
Boaz Weinstein didn’t know it, but he had just hooked the London Whale.
It happens to the best of us.
Bloomberg reports that at Raj Rajaratnam’s insider-trading trial a year ago, Goldman CEO Lloyd Blankfein told jurors he makes unscheduled calls to the bank’s board members at times of market 'uncertainty'.
Here are links to last week's top 15 stories.
The Financial Services Authority (FSA) has published a decision notice indicating that it has decided to fine Alberto Micalizzi £3m and ban him from performing any role in regulated financial services for not being fit and proper.
Bloomberg reports that Dewey & LeBoeuf LLP, the law firm that advised Los Angeles Dodgers LLC on its restructuring, filed its own bankruptcy after its chairman was ousted, almost all its partners quit and creditors began suing for unpaid bills.
Would you believe it!
Forget for a moment the size of JPMorgan's eventual trading loss (put at anywhere between $2bn and $7bn), and focus instead on the other costs the firm is incurring liquidating assets to prop up earnings.
Although there's been a lot made about how the smaller or boutique firms are in hiring mode, they aren't immune from these difficult times either.
Michael Picarella, an HSBC senior vice president who’s suing the bank for retaliation after pointing out harassment against top brass, has left the bank, The New York Post has learned.
Barclays has hired Barry Meyers, a former executive director at JP Morgan, to head its UK equity capital markets (ECM) team, a source familiar with the matter said on Monday.
One of the highest paid bankers at Royal Bank of Scotland is leaving just weeks after being promoted to oversee the structuring of its investment banking arm.